The Ukrainian Journal of Business Law

[https://pravo.ua/event/inhouse2020/] Counse link ANTIKA Law Firm 12, Khreshchatyk street, 2-nd floor, Kyiv , 01001 , Ukraine Phone: +38 (044) 390 09 20 Fax: +38 (044) 390 09 21 office@antikalaw.com.ua www.antikalaw.com.ua/en Arzinger Senator Business Center, 32/2 Moskovska street, 10th floor, Kyiv , 01010 , Ukraine Phone: +38 (044) 390 55 33 Fax: +38 (044) 390 55 40 mail@arzinger.ua www.arzinger.ua Asters Leonardo Business Center, 14th floor, 19-21 Bohdana Khmelnytskoho St., Kyiv , 01030 , Ukraine Phone: +380 44 230 6000 Fax: +380 44 230 6001 info@asterslaw.com www.asterslaw.com DLF attorneys-at-law Torus Business Centre, 17d Hlybochytska Street, Kyiv , 04050 , Ukraine Phone: +380 44 384 24 54 Fax: +380 44 384 24 55 info@dlf.ua www.dlf.ua GOLAW 19B Instytutska Street, Office 29, Kyiv , 01021 , Ukraine Phone: +38 (044) 581 12 20 Phone: +38 (044) 581 12 21 Fax: +38 (044) 581 12 22 info@golaw.ua www.golaw.ua Ilyashev & Partners 11 Kudryavska Str, Kyiv , 04053 , Ukraine Phone: +38 (044) 494 19 19 Fax: +38 (044) 494 19 99 office@attorneys.ua www.attorneys.ua Inyurpolis law firm (ILF) 14-A †Skrypnyka Street, Kharkov , 61057 , Ukraine Phone: +38†(057)†728 00 00 Fax: +38†(057)†714 06 28 office@ilf-ua.com www.ilf-ua.com Konnov & Sozanovsky 23 Shota Rustaveli Street, Suite 3, Kiev , 01019 , Ukraine Phone: +380 (0) 44 490-5400 Fax: +380 (0) 44 490-5490 info@konnov.com www.konnov.com LCF Law Group 47 Volodymyrska street, Office 3, Kyiv , 01034 , Ukraine Phone: +38 (044) 455 88 87 Fax: +38 (044) 502 55 23 info@lcfgroup.com.ua www.lcfgroup.com.ua/en/ Sayenko Kharenko 10 Muzeyny Provulok, 7th floor, Kyiv , 01001 , Ukraine Phone: +380 44 499 6000 Fax: +380 44 499 6250 info@sk.ua www.sk.ua CURRENT ISSUE ( July-August 2020 ) In focus – IT & Telecomunications The technologies sector has gone through a real sustainability test during and after the recent lockdown. The global sector of hardware technologies is hugely affected†Ц disrupted supply chains, inflationary risks on products and a decline in purchasing power. By contrast, software production and telecom services came under abnormal pressure and followed impetus for growth. E-commerce, streaming services, remote working technologies, IT security, video conferences applications and other related solutions experience an unprecedented rise. Expert Opinion Anticipated Reform in Ukrainian Telecommunications Sector: Key Changes for Market Players Natalia Pakhomovska, Olena Stanishevska Legislative reform in the telecommunications sector appears to have been on the Ukrainian ParliamentТs agenda for some time. On 16 June 2020, the Ukrainian Parliament approved Ч in its first reading Ч Draft Law On Electronic Communications No. 3014 (the E-Communications Draft Law), which is aimed at novation of† obsolete Ukrainian legislation in the area of telecommunications and radio frequency resources (or radio spectrum as per new draft law). The new law also adjusts existing legislation to comply with EU regulations on electronic communications. In Re VAT Exemption for Software Products Supplies. Changes Expected? Elena Bukuyeva Attention has recently been paid to Law 466 On Amending the Tax Code as to Improvement of Tax Administration, Elimination of Technical and Logical Inconsistences in Tax Legislation , including to its effect on the IT industry. Deregulatory Changes in Information Security in Ukraine Yuriy Kotliarov, Sergiy Tsyba Repeated cyber intrusions into Ukrainian information and industrial systems demonstrate the need for changes in its information security legal and regulatory framework. Global Privacy Trends and Ukrainian Business Halyna Vasylevska A Ukrainian technology hub with brilliant engineering minds, R&D offices of global companies, and consistent growth for the past 10 years are often listed as a part of national investment attraction. At the same time, a lack of comprehensive enforceable privacy regulation is mentioned as one of the red flags for global companies when dealing with Ukrainian business. In this article, we will try to set out the main privacy challenges and opportunities for Ukrainian businesses and regulators. News Deals Sayenko Kharenko advised Dobrobut Asters advised EBRD on EUR 25 million financing to Yuria-Pharm CMS assisted TIS Group Asters advised EBRD on providing loan to Grain Alliance EVERLEGAL acted as a legal partner of UNIT.City Cases EU court rejected claim filed by Nord Stream-2 against provisions of Gas Directive Supreme Court confirmed bail-in legality in case of Surkis deposits in PrivatBank Claim worth USD 5 billion filed against Google in USA for collecting data in incognito mode Facebook lost action in dispute with German antitrust authority Draft Draft law on cloud services adopted in first reading Verkhovna Rada adopted Draft Law on Joint-stock Companies in first reading New draft law on Business Ombudsman registered with Parliament Government approved draft law on guarantees to banks Law digest Law on combating tax evasion is in force now National Bank will not fine banks for certain major violations till June 2021 Moratorium on state-financed institutions bankruptcy Powers of the Ministry of Justice in financial monitoring extended Law on simplifying investment attraction adopted Terms for bankruptcy proceedings extended and fines canceled Biz News Mergers & Acquisitions Epicentr K closed deal on acquisition of a large agricultural holding Automobile Sales of new cars in EU fell by half Renewable Energy УGreenФ energy surpassed nuclear power in terms of production volume for first time ever Cabinet of Ministers signed memorandum with green electricity producers Privatization Centrenergo privatization is planned for second quarter of 2021 Competition European Commission initiated antitrust investigation against Apple Sanctions EU leaders prolong economic sanctions against Russia over Ukraine Banking & Finance NBU cut lending rate to minimum historical level of 6% Macroeconomy Performance of all economy sectors fell in Q1 except for agro sector Chamber News First meeting of National Reforms Council under President Zelensky The President of the American Chamber of Commerce in Ukraine, Andy Hunder , delivered the voice of members and investors at the first meeting of the renewed National Reforms Council under Ukrainian President Volodymyr Zelensky . Four key issues were on the agenda. Cover Story Consistent Commitment The global lockdown has not only changed our everyday life but also led to mass reconsideration of investment strategies. Some countries may jump into this emerging window of opportunity by presenting their great potential and consistent commitment to understandable rules of the game. How is Ukraine mapped out among other countries competing for the allocation of investment flows? What is the perception of us among foreign decision-makers and influencers? We addressed these and many other questions to Peter Teluk, a US-qualified lawyer, who recently joined the partnership of Sayenko Kharenko. Hot Issue Third Party Litigation Funding: A Source of Leverage in the Great Cessation James Hart As a semblance of normality starts to return to our lives, we are left contemplating what lies ahead for businesses in what will undoubtedly be one of, if not the greatest, economic downturns of our era. In such an environment many businesses are forced to focus on negotiating and limiting losses rather than building capacity and finding sources of growth. The global economic pie has shrunk and there will be an inevitable scramble by companies, institutions and nations to maintain their share of it. In the legal services market this will result in two key conflicting trends: an increasingly litigious environment and a reluctance or inability to spend money on legal costs. How can these two conflicting trends be reconciled? Enter litigation funds. Global Legal Update KazakhstanТs Response to the Financial Impact of COVID-19 Gulnur Bekmukhanbetova The COVID-19 pandemic and accompanying government restrictions have dramatically impac≠ted the economies of countries around the world, including Kazakhstan. KazakhstanТs oil and gas industry has traditionally been the economyТs engine. As a result, recent OPEC+ developments and the reduced demand for oil and gas represent additional challenges for Kazakhstan, increasing the impact of the pandemic on the local economy. Argument Factors and Methods for Minimizing Impact of Merger Syndrome within a Company Rostyslav Nykitenko In the context of a steady increase in consumption, the market tends towards transforming existing business entities focused on the changing preferences of the average consumer. Thus, there is a tendency towards the merger and consolidation of companies that have changed the vector of development strategy. Crux Legal Digest During the past month the UJBL editorial team monitored the most significant changes in legislature, as well as new prospective initiatives. Among the most attention-worthy ones are the draft laws On Meditation , On the Institution of the Business Ombudsman in Ukraine and On Joint-Stock Companies . New laws and drafts related to the electricity market should also be highlighted. We asked experts to provide their points of view on the mentioned and following matters. Subscribe Subscribe to The Ukrainian Journal of Business Law right now and enjoy the most relevant issues on doing business in Ukraine on your device or in print. All this for just USD 9.99 a month. Sign In E-mail Password Remember Me Reset password Subscribe/Register HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ANALYTICS SPONSORSHIP & ADVERTISING GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ADVERTISE GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT BANNER EXCHANGE Copyright © 2003-2017 by Yuridicheskaya Practika Publishing. All rights reserved.